Vacancy rates moved down slightly to 2.9% for the 4th quarter of 2015. This is a decrease of .7% from last quarter. The largest decrease in vacancy rates from last quarter was single family homes in Ada County at 1.3%. Canyon county single family had a decrease of .4%.
Rental rates in Ada County decreased on the average of $139 for single family homes. There was an overall decrease of $126 in rental rates for multi-family homes, in Ada County. On the average Ada County showed a $182 decrease in rental rates over last quarter. This large decrease is solely based on the competitive time of year and the fact that vacancies are much tougher to fill during the 4th quarter.
Rental rates in Canyon County showed an average decrease of $230, from last quarter. This large number is in part due to the increase in rental rates for Canyon County last quarter and directly related to the increase in rate 5 bedroom single family homes and again related to the competitive time of year.
Both Ada and Canyon County experienced significant vacancy decreases for the 4th
Quarter of 2015. Although both counties experienced the vacancy decrease, Ada County had the higher reduction in vacancy rates by 19% last quarter.
Data Reference - swidaho.narpm.org
Boise Investor Group